EPFO ups auto-settlement limit for advance claims to Rs 5L

In a welcome move for salaried employees, the Employees’ Provident Fund Organisation (EPFO) has raised the auto-settlement limit for advance claims from Rs 1 lakh to Rs 5 lakh. Announced on June 24 by Labour Minister Mansukh Mandaviya, this change aims to expedite the access of PF account holders to their funds by eliminating the need for manual verification. Why this matters The higher limit promises faster relief in times of need. Claims of up to Rs 5 lakh will now be processed aut